The Peruvian government has published official rules for online gambling, creating a clear framework for the sector. Supreme Decree No. 005-2023 informs the basic principles of online gambling The document also contains an online gaming licensing algorithm for various casinos, incl Pin Up Casino, which should bring significant income to the country for tourism development. Let’s take a closer look at the financial implications of casino operations and the objectives of the new law
Financial data on casino operations in Peru including Pin Up Peru
The gaming industry has grown significantly in the country, providing huge revenues to budgets at various levels. This sector generates about $1.6 billion annually. According to the report of the General Directorate of Casino Games and Slot Machines of the Ministry of Foreign Trade and Tourism, this benefit is generated by the following types of entertainment:
– Casinos and slot machines generate 54% of revenue,
– sports betting – 22%,
– lottery – 6%,
– horse racing – 5%,
– Illegal gambling – 13%.
According to representatives of the Peruvian gaming industry, the annual income of the state budget is 400 million soles. Of this amount, 310 million are transferred to municipalities and districts, as well as to the Peruvian Sports Institute and the Ministry of Foreign Trade and Tourism. Gaming platforms, including Pin Up Peru, will also have to pay a selective consumption tax.
How will the implementation of the new law modify the activities of pin up gaming and casino sites?
Supreme Decree 005-2023 empowers the Ministry of Foreign Trade and Tourism to regulate and approve online casinos such as pin-up and sports betting. This includes registration of various digital products, such as technology platforms, live casino games, sports betting terminals and gaming service providers.
To ensure compliance, unregulated operators were given 1 month to apply for a license and legally operate in Peru. The regulations will come into force on February 9, 2024 They will help the Peruvian state collect about 162 million soles a year from pin-up casinos and other gaming establishments to invest in tourism development, improving operations of tourism infrastructure. and promotion of sports. These rules will also help create a safe gaming environment
Peru offers great potential and opportunities for online casinos and betting houses that plan to enter the Latin American market or expand their operations with pin up casinos. However, this is a market that requires adaptation and innovation to meet the needs of Peruvian users. Operators that offer a differentiated and adapted product, as well as focus on the country’s legal framework, can stand out and stand out in a competitive environment.
